Question

The cost of renting tuxes for the Choral Society’s formal is $20 down plus $88 per tux. Express the cost ???? as a function of x, the number of tuxedos rented. a. What is the cost of renting two tuxes? b. What is the cost of the second tux? c. What is the cost of the tenth tux? d. What is the variable cost? e. What is the fixed cost? f. What is the marginal cost?

Answer 1

Answer:

a. $196

b. $88

c. $88

d. $88(x)

e. $20

f. $88

Explanation:

Given:

Rent = $20

Cost per Tux = $88

x = Number of tux

• Since $20 is rent regardless , how many tuxes we rent

Cost function C(x) = 88(x) + 20

A. Cost of renting two tuxes

C(2) = $88(2) + $20

       = $176 + $20

       = $196

B. All tuxes has same cost, so cost of second tux = $88

C. All tuxes has same cost, so cost of tenth tux = $88

D. Here variable cost means value of tuxes , so variable cost = $88(x)

E. Here rent is described as fixed cost = $20

F. Marginal cost =  change in cost / change in quantity

                          =  ${(2*88) -(1*88)} / 2-1

                          =  $88